Cambridge Bancorp President and CEO Joseph V. Roller II announced today his plans to retire by mid-2015, setting the stage for the company’s Board of Directors to begin the search for his successor. Roller has been with Cambridge Bancorp and its subsidiary, Cambridge Trust Company, since 2001 when he joined as President and Chief Operating Officer. In 2003, he was named CEO. Roller is the 11 th president in the 124-year history of the Bank.
Under Roller’s leadership, the Company has experienced impressive growth in all of the institution’s key metrics. Since 2001, total assets have more than doubled to $1.5 billion as of March 31, 2014. Similarly, total loans have increased from $221 million to $947 million and total deposits from $494 million to $1.3 billion during that period. Wealth Management client assets under management have enjoyed significant growth from $1.2 billion in 2001 to $2.2 billion today.
Cambridge Bancorp’s earnings have shown solid growth since Roller joined the Company and consistently ranked in the top quartile of banks in the Commonwealth, as measured by return on equity.
"On behalf of the entire Board, I congratulate Joe on his prospective retirement next year after a distinguished 40-year career in the financial services industry and his outstanding stewardship of the Company for the past 13 years. Our challenge now is to find a worthy successor, a President and CEO who can maintain the momentum and sustain the same impressive results that have been the hallmark of Joe's leadership," said Cambridge Bancorp Lead Director Linda Whitlock.During Roller’s tenure, the Bank expanded its geographic reach to a retail network of 12 branches and recently completed a total renovation of its headquarters in Harvard Square. In addition, the Bank established an Innovation Banking Group in Kendall Square, Cambridge and relocated the Wealth Management Group to 75 State Street in Boston’s financial district.